RoboSense, a Chinese provider of lidar sensors used in driverless cars, announced on Oct 11, the completion of a financing round over USD 45 million. It is the largest single round of fundraising among Chinese lidar companies.
Chinese internet giant Alibaba Group Holding and the country’s state-owned auto companies SAIC Motor Corp and BAIC Group participated in the new round. Shenzhen-based RoboSense will use the funds to enhance research, develop products and expand market share, the company said in a statement on Wednesday.
The new financing round comes at a time when numerous business opportunities are created under the push for production and adoption of driverless cars in the global car industry.